State of Alaska LLC: Everything You Need to Know
A State of Alaska LLC must be registered with the State of Alaska Division of Corporations, Business and Professional Licensing by meeting the naming requirements, following the formation requirements, filing the appropriate forms, and paying applicable fees. 3 min read
2. Selecting a Business Name
3. Filing Articles of Organization
4. Appointing a Registered Agent
5. Creating an Operating Agreement
7. Taxes and Regulatory Requirements
8. Foreign LLC
A State of Alaska LLC must be registered with the State of Alaska Division of Corporations, Business and Professional Licensing by meeting the naming requirements, following the formation requirements, filing the appropriate forms, and paying applicable fees.
Steps for Forming a State of Alaska LLC
- Select a name for the business.
- File Articles of Organization with the state.
- Appoint a registered agent.
- Prepare an operating agreement.
- File initial and biennial reports.
- Be in compliance with tax and regulatory requirements.
- File as a foreign LLC, if applicable.
Selecting a Business Name
- Alaska law requires that the name of a limited liability company (LLC) must contain the abbreviations LLC or L.L.C. or the words Limited Liability Company.
- The name cannot be the same as other businesses and the name must be distinguishable from other business names.
- There are restricted words that cannot be used without additional paperwork or the requirement that a licensed person be part of the limited liability company. Examples include the use of words such as bank, university, attorney, doctor, or lawyer.
- Prohibited words that would cause confusion between the LLC and state or federal agencies are also not allowed. Examples include the use of FBI, Treasury, CIA, or Secret Service.
- To reserve an available name, fill out a Name Reservation Application. The name is reserved for up to 120 days. The form can be mailed or filed online. The reservation fee is $25.
Filing Articles of Organization
- An LLC is formed once the Articles of Organization are filed with the state.
- The following information is required when filling out the form:
- the name of the limited liability company
- the company's purpose
- the duration of the LLC
- name and address of the registered agent
- an explanation of how the LLC will be managed
- The filing fee for the articles is $250. Processing time can take 10 to 15 working days.
Appointing a Registered Agent
- Alaska law requires that you nominate a registered agent for your limited liability company.
- The agent is responsible for "service of process" in the state.
- The registered agent may be an individual or a corporation whose responsibility it is to accept legal paperwork on behalf of the LLC. The individual must be an Alaska resident. The corporation must have the authorization to do business in Alaska.
Creating an Operating Agreement
- An operating agreement is a legal document created to outline the ownership of the LLC and the operating procedures of the LLC.
- it is not a requirement of the State of Alaska to create an operating agreement, but it is advised that business owners do so.
- If you choose to create an operating agreement, it is not filed with the state.
- An initial report must be filed within six months of the organization of the LLC. Initial reports do not have filing fees.
- A biennial report is required every two years for an LLC and a foreign LLC. The report may be filed online or by mail. The filing fee for an Alaska LLC is $100 and for foreign LLCs, the fee is $200.
- Both reports must include specific information pertinent to the LLC.
- If the reports are not filed, it may result in the LLC being involuntarily dissolved or revoked.
Taxes and Regulatory Requirements
- You will need to comply with any tax requirements for the LLC required by the state.
- If the LLC has more than one member, you will need an Employer Identification Number (EIN) available from the Internal Revenue Service. This number is used to identify a business. There is no filing fee for an EIN.
- A one-member LLC will need an EIN if it will have employees, or if you chose to have the LLC taxed as a corporation versus a sole proprietorship.
- You must have a business license to do business in Alaska. The fee is $50. The license must be renewed every two years.
- Depending on your business structure, other state or local licenses may be required.
- Any LLC organized outside of the state must register with the State of Alaska Corporation Section.
- A Registration of Foreign LLC must be filed. The fee is $350.
- A foreign LLC must obtain an Alaska business license and file a biennial report every two years.
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